Canadian Housing Starts Rise in May
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Monthly Housing Starts and Other Construction Data Tables
Monthly Housing Starts and Other Construction Data Tables
On Monday, the Canada Mortgage and Housing Corporation (CMHC) released its housing starts data for May. The standalone seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada in May was 264,506 units—a month-over-month increase of 10%.
CMHC breaks down the total SAAR of housing starts as follows:
- Urban starts increased 11% to 246,111 units
- Multi-unit urban starts climbed 13% higher to 203,141 units
- Single-detached urban starts increased 2% to 42,970 units
- Rural starts were estimated at a SAAR of 18.395 units
CMHC reports that the “trend” in housing starts was 247,830 units in May, up 3.8% month-over-month. The trend measure is a 6-month average of the monthly SAAR of total housing starts for all of Canada.
In Montreal, housing starts were up 104%, driven by a 106% increase in multi-unit starts. Toronto increased 47% with multi-units starts higher. Vancouver declined 32%, due to a decrease in multi-unit starts.
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